Bigworld, Looks like Acurx recently received $2.2 mil from the exercise of warrants, per the recent Q3 press release (next post), and that $2.2 mil was received after Q3 ended. Those warrants must have been from an earlier financing, since the May 2023 warrants can't be exercised until Nov 18. The cash level at the end of Sept (Q3) was $7.1 mil, so better than I expected, and add to that the additional $2.2 mil --> so $9.3, which is pretty good :o)
And more cash may be coming after Nov 18 when the warrants from the May 2023 can begin to be exercised. I'm figuring a burn rate of approx $1 mil per month, although expenses might be somewhat 'lumpy', but the company is in better financial shape than I thought, especially if more warrant exercises are forthcoming after Nov 18. It figures that Luci would be reasonably on top of things cash-wise, since he's a finance guy.
Anyway, should be a very interesting period ahead, with the longer term recurrence and microbiome data coming, pharma discussions likely underway, etc. Next I'll check out today's conference call replay, so will see what additional insights can be gleaned. A poster on the Acurx board had this message today -- >>> Institutional investment has increased! NDA signed with multiple suitors <<< -- which I assume must have come from the conference call. If true, then great news :o)
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